C MornStar EveStar

Definition

The C_MornStar_EveStar indicator identifies the occurrence of two candlestick patterns: Morning Star and Evening Star, and marks the bars with these patterns. For more info about Doji pattern check here.

A morning star is a visual pattern consisting of three candlesticks that is interpreted as a bullish sign by technical analysts.

The Morning Star pattern is composed of three candles:
1. a long red candle (its body needs to be larger than the average body);
2. a small body candle that gaps lower and forms the star;
3. a green candle that closes will into the real body of the first candle.

An evening star is a bearish chart pattern used by technical analysts to detect when a trend is about to reverse.

The Evening Star is also composed of three candles:
1. a long green candle (its body needs to be larger than the average body);
2. a small body candle that gaps lower and forms the star;
3. a red candle that closes will into the real body of the first candle.

Default Inputs

Length sets the number of bars used to calculate the average body, 14 by default.